Sources say that Brazil's Petrobras will reduce its investments for 2025.
Three sources said that Brazil's Petrobras will reduce its planned investments next year despite the government's request for the state-run company to increase CAPEX. Initial estimates from the firm suggest that spending may be reduced to $17 billion. Petrobras didn't immediately respond to an inquiry for comment.
U.S. Natgas Demand, Price Nosedive Continues
U.S. natural gas futures held near a 21-month low on Tuesday, keeping the contract on track for its second-biggest monthly drop in history, as a decline in output from this week's extreme cold offset forecasts for warmer weather and less heating demand next week than previously expected.Gas prices have…
US Unveils $1.15 Billion for Abandoned Oil and Gas Well Clean-up
The Biden administration on Monday said it would make $1.15 billion available to states to clean up abandoned oil and gas wells as part of a broad effort to reduce U.S. climate warming emissions and improve health and safety in nearby communities.The money represents a portion of the $4.7 billion for…
New Water Dissolvable Frac Ball Tooling Launched
Victory Elements says its newly launched water dissolvable ceramic materials for hydraulic fracturing of oil and gas wells are designed to provide performance and cost advantages compared to conventional practices including faster completion times, reduced completion costs and less environmental impact.
U.S. Drillers Add Rigs for first Week in Eight
U.S. energy firms added rigs for the first time in eight weeks even as producers follow through on plans to reduce spending on new drilling.Companies added 4 oil rigs in the week to Dec. 13, bringing the total count to 667, energy services firm Baker Hughes Co said in its closely followed report on Friday.In the same week a year ago…
Investors Brace for Poor US Shale Earnings
Investors are bracing for weaker results from U.S. shale players in coming days as lower oil and natural gas prices and cost-cutting measures have weighed on third-quarter operations.Major shale producers ConocoPhillips and Concho Resources this week kick off quarterly earnings reports for a group whipsawed…
Aramco Uses Renewables in Gas Wells
Saudi Arabian national petroleum and natural gas company Saudi Aramco said that using renewable energy at unconventional well sites in Wa’ad Al-Shamal provides multiple benefits to the company."Not only is it a reliable and less expensive way to power the remote wells, but it also reduces carbon emissions…
Sinopec Resumes Output at Most Wells Shut by Typhoon
Sinopec Corp has resumed operations at most of the oil and gas wells at its top-producing oilfield, Shengli in east China, after thousands were shut due to typhoon Lekima, parent company Sinopec Group said on Wednesday.The state oil and gas firm has resumed production at 15,318 of the 16,565 crude wells closed by the typhoon…
65,000 Wells will be Drilled in 2019
Rystad Energy forecasts that the number of onshore and offshore oil and gas wells drilled globally will increase to around 65,000 in 2019.Activity levels are then projected to remain around this level through 2023, the energy research and business intelligence company said.Rystad Energy also forecasts…
Noble Energy Q4 Disappoints, Lower CapEx Coming
Noble Energy posted quarterly profit on Tuesday that fell short of analysts' estimates, and forecast lower capital expenditure for 2019 citing a drop in oil prices.An unexpected drop in global crude oil prices and tight pipeline capacity in U.S. shale basins have prompted many energy firms to cut their…
Alaska Officials Probe BP's Prudhoe Bay Wells After Spill
Regulators in the U.S. state of Alaska will investigate all of the oil and natural gas wells operated by BP Plc at its Prudhoe Bay oil field after the release of a small amount of crude oil and gas from a well that had earlier been shut.The Alaska Oil and Gas Conservation Commission (AOGCC) has scheduled a Feb.
Gazprom 95% Completes TurkStream Gas Pipeline's Offshore Section
Russian oil and gas giant Gazprom is progressing a number of gas pipeline stretching across the Black Sea projects with three major projects already 95.5 percent complete, the company claimed.The TurkStream will soon see the completion of its offshore section, bringing closer a consistent the supply…
Wild Well Announces Onsite Training
Well control and engineering services firm Wild Well Control, Inc., a Superior Energy Services company, announced that it will offer well control training to drilling rig crews onsite with its rigsite well control Crew Training Unit.Wild Well is an provider certified well control training in the classroom…
Patterson-UTI Pulls Back Additional Hydraulic Fracturing Fleets
Oilfield services provider Patterson-UTI on Thursday said it would temporarily stop deploying new pressure pumping fleets to hydraulically fracture oil and gas wells due to oversupply in the market.Too many providers have made it difficult to fully utilize its pressure pumping equipment, especially during the end of the second quarter, Patterson executives said during the
ClearWELL Scales Up North American Presence
Flow assurance and scale control specialist, ClearWELL Oilfield Solutions, has strengthened its U.S. presence with the appointment of two key positions.Brian Gaudin and John Simonson join the company as Director, Business Development and Business Development Manager, respectively. Gaudin brings 23 years…
Transocean Signs 11 Well Contract with Chevron Australia
The international provider of offshore contract drilling services for oil and gas wells Transocean announced that the ultra-deepwater semisubmersible GSF Development Driller I was awarded an 11-well contract (approximately 955 days) commencing offshore Australia in the first half of 2019 with Chevron Australia.The estimated firm contract backlog…
Texas Drilling Permits Fell in March, Completions Rise
Texas's energy regulator issued fewer new drilling permits in March than a year ago, but well completions rose, according to data released on Friday by the state.A total of 1,220 original permits were issued last month, down about 7 percent from the same time last year. Roughly half of the permits were for oil and gas wells in the Midland area…
New Addition to DNV GL’s Veracity Platform
DNV GL will add a new third party software solution to Veracity, its open industry data platform, that is based on cleaned data collected from 80 000 oil and gas wells. AGR, the leading well design and drilling project management firm, has agreed to host its iQx software on the platform, which contains information that is vital to companies selecting locations of wells.
DNV GL’s Veracity Platform Expanded with iQx Software
DNV GL will add a new third party software solution to Veracity, its open industry data platform, that is based on cleaned data collected from 80,000 oil and gas wells. AGR, a well design and drilling project management firm, has agreed to host its iQx software on the platform, which contains information that is vital to companies selecting locations of wells.
Mexico's Oil Reform a Boon for Hard-hit Oil Service, Seismic Firms
Oil service and mapping firms still emerging from an industry recession have received a boost from about $800 million of data sales to energy firms considering bidding for Mexican oil and gas blocks. Mexico will on Wednesday hold its most important auction since a 2013 reform ended the 75-year monopoly on the energy sector held by state-run oil firm Pemex.
